- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller June 30, 2016
Initial jobless insurance claims increased to 268,000 (-4.3% y/y) during the week ended June 25 from 258,000 in the prior week, revised from 259,000. The Action Economics Forecast Survey expected 270,000 claims. The four-week moving average of claims remained steady at 266,750. During the last ten years, there has been a 74% correlation between the level of claims and the m/m change in payroll employment.
In the week ending June 18, continuing claims for unemployment insurance declined to 2.120 million (-6.7% y/y) from 2.140 million. Claims were near the lowest level since 2000. The four-week moving average fell to 2.134 million.
The insured rate of unemployment eased to a record low of 1.5%.
Insured rates of unemployment across states continued to vary. Near the low end of the range were South Dakota (0.37%), Florida (0.64%), Indiana (0.76%), Tennessee (0.80%), Virginia (0.86%) and South Carolina (0.89%). At the high end of the scale were Texas (1.66%), Massachusetts (1.77%), Nevada (1.79%), Illinois (1.96%), New Jersey (2.22%) and Pennsylvania (2.25%). The state data are not seasonally adjusted.
Data on weekly unemployment insurance are contained in Haver's WEEKLY database and they are summarized monthly in USECON. Data for individual states are in REGIONW. The expectations figure is from the Action Economics survey, carried in the AS1REPNA database.
Monetary Policy Transmission before and after the Crisis from the Federal Reserve Bank of New York can be found here.
|Unemployment Insurance (000s)||06/25/16||06/18/16||06/11/16||Y/Y||2015||2014||2013|
|Insured Unemployment Rate (%)||--||1.5||1.6||